Today’s Dollar Exchange Rate and Market Outlook (June 3, 2024)

What is the Dollar-Euro Exchange Rate Today?

As of June 3, 2024, what are the current dollar and euro prices in Turkish Lira? What is the latest on the dollar exchange rate? Here’s the latest update on foreign exchange rates in the interbank market. While Turkish Lira assets continue to draw significant interest, the foreign exchange rates remain relatively stable.

Today, the USD/TRY pair traded around ₺32.19, while the EUR/TRY found buyers at the level of ₺34.96.

The Turkish Lira concluded May with a 0.4% increase in value against the dollar. In April, the TL had also experienced a modest gain of 0.04%.

Today in the markets, attention will be on the Purchasing Managers’ Index (PMI) for manufacturing, inflation figures, and Treasury auctions.

A monthly inflation increase of around 3% is anticipated, with annual inflation expected to peak at around 75%.

After reaching its highest level of around 75% in May, annual inflation is projected to decline.

Turkish Lira assets continue to attract high interest. Foreign investors’ bond purchases amounted to $7.1 billion in the past five weeks.

On the other hand, domestic investors have seen a decline of over $11 billion since mid-April. The domestic residents’ holdings of precious metals and foreign exchange deposits have decreased to $170.6 billion.

Source: NTV / Prepared by Irem Yildiz

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